UK underwriting loss for Equity owner

europe-with-britain

The news came as IAG confirmed it had written off AU$297m of goodwill and intangible assets in the UK business and was still pursuing a strategic review which could lead to a sale.

The AU$23m underwriting loss was however a considerable improvement on the previous year when the UK division posted a AU$192m deficit.

The provider's UK combined operating ratio improved to 104.6% from 135.6% the previous year while gross written premiums fell 9% to AU$497m (2011: AU$546m).

The total result for the

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